How Do I Close My Daycare?

Dave thinks Linda should speak to her landlord about getting out of the lease, since her daycare is not making a profit.

QUESTION: Linda has a daycare business and she has not made a profit in the past three years. What can she do to get out of her lease and close the business?

ANSWER: You should go directly to the landlord and explain the situation – that you’re broke and your business is not making a profit. Ask what type of buy-out provision you can create on the lease or offer to work with the landlord to market the property. The landlord could legally say she will not let you out of the contract, but you should try to work something out.

A face-to-face meeting with a humble spirit will take you a very long way in this situation.

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